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▲ Solana (SOL), Ethereum (ETH) ©
Solana is dominating Ethereum in transaction volume and real-world usage metrics, and the possibility of a 'true reversal' has begun to be confirmed by the numbers.
According to Bitcoinist, a cryptocurrency specialized media outlet, on April 21 (local time), Solana (SOL) processed approximately 9 billion transactions over the past month, significantly surpassing Ethereum's (ETH) approximately 69 million transactions. On a cumulative basis, SOL has also recorded over 500 billion transactions, exceeding ETH's approximately 3 billion transactions, widening the gap in network utilization.
These figures go beyond simple numbers and reveal structural differences. SOL has established itself as a network optimized for real-time use, based on a structure that processes thousands of transactions per second at low cost. ETH, on the other hand, has increased throughput through upgrades, but has not yet fully resolved its structural bottlenecks.
Changes are also being observed in terms of institutional adoption. Visa has chosen SOL as its stablecoin payment settlement partner, and Western Union plans to launch its USDPT stablecoin, based on an annual remittance volume of approximately $150 billion, on the SOL network. These factors are considered to be rapidly elevating SOL's position in the payment infrastructure-centric blockchain competition.
However, whether a 'flippening' will occur remains uncertain. Although SOL recently surpassed ETH in the number of real-world asset (RWA) holders, market dominance is not determined by a single metric. Analysis suggests that complex factors such as capital inflow, developer ecosystem, and network reliability must all work together.
ETH is also adopting a strategy of strengthening its entire ecosystem by distributing transaction load externally through Layer 2 scaling solutions. SOL, on the other hand, has limitations as a rapidly growing structure centered on memecoins and high-frequency trading, making it likely that future competition will be framed as 'speed vs. stability'.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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